Syrah just misses revised guidance

GRAPHITE miner Syrah Resources has missed its twice-downgraded production guidance for the September quarter after logistics issues, prior to a post-quarter fire in the primary classifier screen unit, which have pushed its target date from being cashflow positive into early 2019.

Syrah just misses revised guidance Syrah just misses revised guidance Syrah just misses revised guidance Syrah just misses revised guidance Syrah just misses revised guidance

Balama has fallen short again.

It is still confident of declaring commerciality this year.
 
Syrah, which only started production at its US$200 million flagship Balama graphite operation in Mozambique earlier this year, had been ramping up operations and seeing improving recoveries, but while it was able to deliver an 83% increase over the June quarter to 38,700t, it fell short of its reduced target of 39,000-40,000t.
 
Year to date production is 71,100t, but it will now only produce 101,000-106,000t for 2018 with the loss of a further 30,000t production for the December quarter, assuming replacement of the fire damaged unit takes the expected five weeks.
 
It had hoped to produce up to 180,000t this year.
 

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